Adirondack Trust Co. reduced its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,903 shares of the wireless technology company’s stock after selling 192 shares during the period. Adirondack Trust Co.’s holdings in QUALCOMM were worth $603,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. increased its stake in QUALCOMM by 2.5% in the second quarter. Bessemer Group Inc. now owns 9,663 shares of the wireless technology company’s stock valued at $735,000 after purchasing an additional 233 shares in the last quarter. Cincinnati Financial Corp increased its stake in QUALCOMM by 4.9% in the second quarter. Cincinnati Financial Corp now owns 957,500 shares of the wireless technology company’s stock valued at $72,837,000 after purchasing an additional 45,000 shares in the last quarter. Jennison Associates LLC increased its stake in QUALCOMM by 996.4% in the second quarter. Jennison Associates LLC now owns 15,287,530 shares of the wireless technology company’s stock valued at $1,162,922,000 after purchasing an additional 13,893,238 shares in the last quarter. Nordea Investment Management AB increased its stake in QUALCOMM by 65.1% in the first quarter. Nordea Investment Management AB now owns 436,913 shares of the wireless technology company’s stock valued at $24,915,000 after purchasing an additional 172,283 shares in the last quarter. Finally, FLC Capital Advisors increased its stake in QUALCOMM by 36.1% in the second quarter. FLC Capital Advisors now owns 7,540 shares of the wireless technology company’s stock valued at $578,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 78.45% of the company’s stock.

Several equities research analysts have commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of QUALCOMM in a research note on Monday, July 22nd. Bank of America lowered their target price on shares of QUALCOMM from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. DZ Bank reaffirmed a “sell” rating on shares of QUALCOMM in a research note on Friday, August 2nd. ValuEngine downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Daiwa Capital Markets assumed coverage on shares of QUALCOMM in a research note on Thursday, July 18th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. QUALCOMM presently has a consensus rating of “Buy” and an average price target of $79.68.

In other QUALCOMM news, Director Mark D. Mclaughlin bought 2,705 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was acquired at an average price of $73.84 per share, with a total value of $199,737.20. Following the completion of the transaction, the director now owns 5,220 shares in the company, valued at $385,444.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Erin L. Polek sold 1,478 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.36, for a total transaction of $103,992.08. Following the completion of the transaction, the senior vice president now directly owns 1,386 shares of the company’s stock, valued at approximately $97,518.96. The disclosure for this sale can be found here. Insiders have sold 11,985 shares of company stock valued at $892,245 in the last three months. 0.11% of the stock is owned by insiders.

Shares of QCOM stock remained flat at $$74.35 during trading hours on Wednesday. 4,605,333 shares of the stock traded hands, compared to its average volume of 14,860,096. The company has a 50 day moving average of $76.77 and a 200 day moving average of $73.47. The company has a quick ratio of 1.61, a current ratio of 1.77 and a debt-to-equity ratio of 2.46. QUALCOMM, Inc. has a 52 week low of $49.10 and a 52 week high of $90.34. The stock has a market cap of $94.20 billion, a P/E ratio of 23.31, a PEG ratio of 1.84 and a beta of 1.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. QUALCOMM had a net margin of 13.41% and a return on equity of 112.21%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that QUALCOMM, Inc. will post 2.84 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Wednesday, September 11th. QUALCOMM’s dividend payout ratio is 77.74%.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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